By Dave Elias
Some homeowners may not know why they are receiving property liens on their homes that were damaged by Hurricane Ian.
Many homeowners believed that their roofs were fully covered for replacement, but they weren’t.
Some homeowners in Southwest Florida are finding out that their insurance policies have a clause that covers “roof repair costs.” This can mean that if your roof is damaged by a hurricane like Ian, then you may have to pay for up to half the cost of repairs. In some cases this could cost as much as $15,000.
Jacky Maxwell fought with her insurer for several months before finally agreeing to a settlement.
Maxwell said that the roofing company put a lien against his home as an insurance company had been slow to pay.
Maxwell was given a second lien by the roof repair company when her original lien was finally paid.
Maxwell stated, “I called the roofer and was told that I still owed more than $11, the depreciated worth of my roof. This was not mentioned.”
Imagine it like a larger deductible for your vehicle. If you have an accident, the damage is half your monthly payment.
Gregg Martin is the owner of Eagle Roofing.
Martin said that while his company did not repair Maxwell’s roof, when insurers refuse to pay for the entire roof repairs, homeowners and companies are left with the bill.
Insurance agent Reid McDaniel said it’s quite common.
How is it happening, you ask?
Their roof might not be covered for the replacement cost. McDaniel said that many agents do not disclose this information to their clients.
He always encourages home owners to purchase complete coverage for roof replacement so they are not surprised.
Even though homeowners can save money on insurance each month, they may find that it is not worth the cost if a storm damages their roof.
McDaniel explained: “You’ll be upset when the time comes to replace your roof and you find out that it costs $25K and you only get $14K back from insurance.”
McDaniel says that now, as we are in hurricane season’s peak, the best thing to do is check your policy and make sure you have a fully-covered roof.
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